Bauer Brett A. 4

What Happened
Brett A. Bauer, Treasurer and Chief Financial Officer of 1st Source Corporation (SRCE), was granted 5,000 shares on September 23, 2025. The Form 4 reports the acquisition as an award (code A) at $0.00 per share (total $0 on the filing), indicating a restricted stock award issued as compensation rather than an open-market purchase or sale.

Key Details

• Transaction date: September 23, 2025; Form 4 filed February 5, 2026 (more than four months after the grant).
• Transaction type: Grant / restricted stock award (SEC code A).
• Shares granted: 5,000 shares; reported acquisition price: $0.00.
• Shares owned after transaction: not disclosed on the provided summary.
• Footnote F1: Award made under the 1982 Restricted Stock Award Plan and an Employment Agreement dated September 23, 2025; awards are subject to vesting and continued employment.
• Footnote F2: Separately, Mr. Bauer acquired 195 shares via the company 401(k) plan during 2025 (statement dated Dec 31, 2025).
• Filing timeliness: The report was filed well after the transaction date (filed 2026-02-05 for a 2025-09-23 grant), which is later than the typical 2-business-day window for Form 4 filings.

Context
Restricted stock awards are typically compensation/retention tools that vest over time and require continued employment; they do not represent an immediate open-market bullish bet by the insider. The $0.00 acquisition price on the Form 4 reflects the grant terms, not the market value of the shares. The late filing means the market did not have timely disclosure of this grant.